FEATURED ARTICLES ABOUT FINANCIAL TRANSACTIONS - PAGE 3

NEW DELHI: CBI is likely to send judicial requests to at least four countries seeking information about financial transactions carried out by accused in the alleged payoffs made to clinch Rs 3600-crore VVIP helicopter deal. CBI sources said they are analysing material to finalise specific points to be raised through Letters Rogatory. The LRs--judicial requests--will be sent to the UK, Italy, Mauritius and Tunisia in which agency would seek information about financial transactions done by companies and individuals named in the CBI FIR. The agency had named former IAF Chief SP Tyagi and 12 others in its FIR in the alleged payoffs made in the helicopter deal.

NEW DELHI: The Reserve Bank has extended the deadline for banks to complete the process of allotting a unique customer identification code to their customers to March 31, 2014. Banks, however, will have to allot the Unique Customer Identification Code (UCIC) to all customers while entering into new relationships. RBI said some banks had expressed difficulties in implementing UCIC due to various reasons, and have sought more time to allot UCIC to their existing account holders.

KOLKATA: Trinamool Congress leader Sankudeb Ponda has been summoned by the Enforcement Directorate (ED)in connection with the money laundering probe in the multi-crore Saradha chitfunds scam case. The agency has asked Ponda, who is TMC general secretary and former president of its youth wing, to depose before the investigators on December 30. The ED has already questioned West Bengal minister Shyamapada Mukherjee and TMC MPs Mohammad Hasan Imran, Mithun Chakraborty and arrested MP Kunal Ghosh.

LONDON: Vodafone Group Plc, the world's largest mobile operator, and Finland's Nokia Oyj have called for developing countries to ease bank regulation to encourage financial transactions by mobile phones. Newbury, England-based Vodafone, together with Nokia, the largest maker of mobile phones, and telecommunications equipment maker Nokia Siemens Networks said regulators should allow larger transactions and improve access to the banking system and security. Mobile financial transactions will make international payments easier, lower costs and reduce risks, the companies said in a research paper issued on Monday.

NEW DELHI: CBI has sent judicial requests to Italy, Mauritius and Tunisia seeking details of financial transactions of the companies named in the Rs 3600-crore VVIP helicopter scam. CBI sources said the agency has despatched Letters Rogatory for details of financial transactions, meetings of alleged middlemen and their interests in Indian and Tunisian companies, among others. The top executives of Italian firm Finmeccanica and its United Kingdom-based subsidiary AgustaWestland are facing trial in Italy for alleged corruption in supply of 12 VVIP helicopters to India.

MUMBAI: The Reserve Bank today extended the time for non-banking financial companies (NBFCs) to allot customers unique identification code to March 31, 2014. The RBI had in May said that existing individual customers may also be allotted Unique Customer Identification Code (UCIC) by end-June 2013. "The time for completing the process of allotting UCIC to existing customers is extended up to March 31, 2014. We, however, reiterate that UCIC should be allotted to all customers while entering into new relationships," the RBI said today.

MUMBAI: The Reserve Bank today asked non- banking financial companies (NBFCs) to allot customers unique identification code to avoid multiple identities. "The increasing complexity and volume of financial transactions necessitate that customers do not have multiple identities within a financial institution or across the financial system," RBI said in a notification. It has asked NBFCs to initiate steps for allotting Unique Customer Identification Code (UCIC) to all their customers while entering into any new relationships.

NEW DELHI: IT companies Wipro and HP are in race for supplying 1.3 lakh handheld devices to post offices under a project that is estimated to cost Rs 1,500 crore. "Wipro and HP rpt HP have qualified for technical bids for supplying 1,30,000 handheld devices to Department of Posts. The vendor for this project as per DoP is expected to be finalised by end of this month," a senior government official told PTI. The DoP has floated tender for supplying of handheld devices to 1,30,000 post offices located in rural area as part of its modernisation project.

Mumbai: Setting up of a centralised KYC (know your customer) registry for the entire financial sector will be possible only after implementation of the unique customer identification code (UCIC), RBI Executive Director G Padmanabhan said today. "Once the UCIC is implemented across banks and FIs, it would be feasible to move towards a centralised KYC registry , which will eliminate duplication of efforts and refine the KYC/AML (anti-money laundering)/CFT(combating of financial terrorism)

NEW DELHI: The Income Tax department has put under scanner defence deals and certain individuals after it began probing transactions related to arms businessman Abhishek Verma . The department has gathered documents from CBI after it initiated a tax evasion related probe against Verma and few of his business associates in the national capital. The department had last year approached the Ministry of Defence in this regard last year regarding information on any middleman who could be involved in illegal defence procurement deals.